SAI Reports 2024 EPS of NT$3.3, Declares Cash Dividend of NT$2.2 Per Share, Payout Ratio Reaches 66.67%; SAI Expands Multi-Industry Market Deployment with Forging Technology, Poised for a New Milestone in 2025.
2025/03/04, Yunlin, Taiwan
Global automotive wheel industry leader SuperAlloy Industrial Co., Ltd. (SAI, 1563 TT) announced its full-year 2024 financial results following a board meeting. In 4Q24, the Company reported consolidated revenue of NT$1.93 billion, reflecting a year-over-year decline of 12.6%. Net income attributable to the parent company was NT$153 million, with earnings per share (EPS) of NT$0.62. For the full year 2024, SAI achieved consolidated revenue of NT$7.47 billion, operating profit of NT$978 million, and net income attributable to the parent company of NT$755 million. EPS for the year reached NT$3.3, with year-over-year growth rates of -3.9%, 29.5%, 24.2%, and 14.6%, respectively.
SAI stated that while the automotive industry experienced an adjustment in procurement momentum in 2H24—leading to delayed shipments for some customized wheel orders—the Company remained proactive in expanding its market scope. In parallel, it has strengthened order momentum and market applications for RESAICAL® recycled aluminum, with the proportion of recycled aluminum usage reaching 34% of total production in 2024, up four percentage points from the end of 2023. This contributed to cost structure optimization. Amid efforts to enhance production efficiency, optimize order structure, and implement strict cost controls, SAI delivered strong performance across three key profitability metrics in 2024: gross margin reached 26.8%, operating margin 13.1%, and net margin attributable to the parent company 10.1%, marking notable improvements across all three indicators.
Financially, SAI maintains a robust position, with ample liquidity to support business expansion. The Company’s board of directors, in its meeting on March 3rd, approved the 2024 earnings distribution plan, proposing a cash dividend of NT$2.2 per share from distributable earnings, ensuring a stable dividend policy with a payout ratio of 66.67%. SAI remains committed to returning value to shareholders through consistent cash dividends. Based on the closing price of NT$65.7 on March 3rd, the implied cash yield is approximately 3.35%.
As the global automotive industry places increasing emphasis on sustainability, SAI actively supports customers with low-carbon solutions through RESAICAL® recycled aluminum, which has been officially recognized and adopted by seven luxury automakers: Porsche, JLR, BMW, Toyota, Lexus, Stellantis, and Rolls-Royce. Additionally, the upcoming implementation of the EU Carbon Border Adjustment Mechanism (CBAM) in 2026 is accelerating demand for low-carbon materials in the automotive supply chain. RESAICAL® is expected to remain a key competitive advantage for SAI in the global market.
Looking ahead to 2025, with increasing demand for SUVs and commercial vehicles from Japanese and European brands, as well as the rising adoption of recycled aluminum and non-passenger car wheels, SAI expects to achieve a double-digit revenue growth rate in 2025, while steadily progressing toward its long-term operating margin target of 15%–20%. In response to evolving market dynamics, SAI will maintain a prudent yet agile business strategy, deepen its expertise in forging technology, and actively expand beyond the wheel business. In addition to its growing semiconductor equipment consumables business, SAI plans to extend its forging technology applications to high-potential sectors such as heavy electrical equipment components and aerospace. Over the next three years, the Company aims to increase the revenue contribution of non-passenger car wheels from 15% to over 40%, further optimizing its revenue structure. Moreover, with the construction of its second aluminum smelting plant, SAI is advancing its sustainability goals, targeting 50% recycled aluminum usage by 2025 and expanding its applications to reinforce its green manufacturing advantage. With these forward-looking strategies, SAI is confident in achieving further growth in 2025, enhancing its core competitiveness and advancing steadily toward new milestones.
<Appendix 1> 4Q24 & 2024 Income Statement Unit: NT$ million
| 4Q24 | 4Q23 | YoY (%) | 2024 | 2023 | YoY (%) | |
| Revenue | 1,928 | 2,206 | -12.6 | 7,474 | 7,779 | -3.9 |
| Operating Profit | 281 | 273 | 3.0 | 978 | 755 | 29.5 |
| Net Income to the Parent Company | 153 | 156 | -1.4 | 755 | 608 | 24.2 |
| EPS (NT$) | 0.62 | 0.74 | -16.2 | 3.3 | 2.88 | 14.6 |
<Appendix 2> Dividend Policy Unit: NT$
| 2024 | 2023 | 2022 | |
| Cash Dividend | 2.2 | 1.8 | 1.96 |
| Stock Dividend | 0 | 0 | 0 |
Contact:
Kelly Wang, SAI Investor Relation and Finance Manager
Phone: (05)551-2288 #204
E-mail: kelly.wang@superalloy.tw
Vicky, IR Trust Vice President
Phone: (02)2585-5701/0920-286136
E-mail: vicky@ir-trust.tw
